Mobile Workforce Bill Passes House
The AICPA applauded passage of a bill that would establish a uniform national standard for withholding of state income taxes for non-resident employees. The patchwork of state income tax withholding laws and varying de minimis exemption periods make compliance extremely difficult and time consuming for taxpayers.
AICPA Reiterates Support for PTIN Program, Expresses Concern about Definitions
In its comments on proposed regulations establishing core components of the preparer registration program, the AICPA again indicated its support but is troubled by overly broad definitions of "tax return" and "claim for refund of tax."
AICPA Unveils New Online Tax Calculator - Total Tax Insights
This first-of-a-kind tool from the CPA profession gives taxpayers a clearer picture of the types and number of taxes they pay and the estimated amounts of each based on place of residence across the country. Check it out!
The temporary and proposed regulations need more bright line tests to be helpful to taxpayers trying to make capitalization decisions, the AICPA told the IRS.
The AICPA asked the IRS to formalize its position that certain S corporations are not component members and may each take advantage of the full 179 deduction.
The AICPA urged the IRS to make changes to its correspondent audit program, which has grown considerably over the last several years. Taxpayers and practitioners are often finding the process long and burdensome.